My answer to that would be... No. The price is heading towards the Major 50%. And next week should go down more.

Cable Update (GBPUSD)

You can set TP for that transaction @ 1.24050 - it will get closed early next week with profit.

Cable Update (GBPUSD)

The price will be swinging around 1.24625. However much it goes over/under it will come straight through that value, flow another ~60% of what it was over/under and return. Today price went over 1.24625 by 662 pips, so it will go below 1.24625 for ...

Cable Update (GBPUSD)

Guess which direction it is going? (AGAIN...) Another ~70 pips at the same location...

Cable Update (GBPUSD)

There is only one trade. Apart from that you can see two Fib (monthly and H4).

Cable Update (GBPUSD)

Some screenshots explaining what I see.

Cable Update (GBPUSD)

Few steps needed. 1. Set your graph to Monthly time frame. 2. On that TF draw Fib starting from top of December 2019 to bottom of March 2020. (Let's say this is the MAJOR Fib) 3. Set graph to H4. 4. Draw Fib starting from bottom of 2020.04.07 to top ...

Cable Update (GBPUSD)

You have marked good points on your graph. But... .. but you wrote "I'm hoping"... There is a way not to have hope but to be almost certain about the direction. I can give you a clue that the head and shoulders pattern has it's origin somewhere else ...

Cable Update (GBPUSD)

I am not worried that the graph will go up. I got enough deposit to sustain high jump. The reason I open such position is that it will get closed. It will get closed at the level I am suspecting. I am not panicking when the price goes up. It would ...

Cable Update (GBPUSD)

image Position triggered as expected.

Cable Update (GBPUSD)

Set TP @ 1.24650

Cable Update (GBPUSD)

Sell Limit @ 1.24666 TP @ 1.24060 SL - none.

Cable Update (GBPUSD)

And done.

Cable Update (GBPUSD)

image Buy 1.24000 TP 1.24111

Cable Update (GBPUSD)

Moty - I mentioned your post about GBPUSD nor EURUSD...

Cable Update (GBPUSD)

It would be a little bit lower... 1.2406

Cable Update (GBPUSD)

I think this industry is VERY newbie "friendly". This is the sector of players that the industry profits from...

Cable Update (GBPUSD)

Set your TP at 1.24860

Cable Update (GBPUSD)

Major 50 = 1.24620 Minor 38.2 = 1.24630 If it goes up anywhere today, it will come down to these levels, pass through (~60% of previous movement) and return to them again.

Cable Update (GBPUSD)

Are... you... ready...?

Cable Update (GBPUSD)